Author: olimpio
Compiled by: TechFlow
$BLAST Tokenomics has been released with an estimated coin supply of 100 million and 10 trillion points. How much are they worth?
This is a tweet about the Blast FDV situation, coin valuations, airdrop estimates, but why aren't we talking about witches?
To recap, today, Blast announced that its total supply is 100 billion. 17% of this is for S1 airdrops: 7% for coins, 7% for points, and 3% for Blur farmers.
So, all coins are worth 7 billion Blast tokens, and all points are worth 7 billion Blast tokens.
We don't have official points and coin supply, but some estimates put the coin supply at around 80 million to 100 million (taking referrals into account).
In our pessimistic case, we assume a coin supply of 100 million.
gold
With a total supply of 100 million coins, each coin is equivalent to 70 $BLAST.
(7,000,000,000 airdrops / 100,000,000 total coin supply) = 70 $BLAST per coin.
Now, how is the points situation?
integral
Blast's own website shows the relationship between coins and points
“20,483 coins will get as much airdrop as 2,224,255,462 points”
This means 1 coin = 108,590 points
If we take the total supply of 100 million coins, we can estimate the total point supply → 10 859 000 000 000 (10.8 trillion points)
Remember, points are awarded for 7 billion tokens, so approximately 0.00064463 $BLAST = 1 point
100,000 points = 64.46 $BLAST
$BLAST
Now we estimate (pessimistically) that:
1 gold coin = 70 $BLAST
100,000 points = 65 $BLAST
So how much is Blast worth?
$BLAST Price Status
Comparing the FDV scenario to the top Ethereum L2s, we can see that if Blast outperformed all top Ethereum L2s at 10 billion FDV, the token price would be $0.10.
Arbitrum is the largest L2 with the most TVL and the largest FDV. If Blast had the same FDV, the token price would be $0.083.
Optimism is a close second, not because of TVL ($678M), but because of its FDV of $7.6B. If Blast had the same FDV as Optimism, the token price would be $0.076.
Blast Gold Airdrop Price Status 1
Ecstasy Price → 100 Gold = 700 USD
Neutral Price → 100 Coins = 350 USD
Pessimistic Price → 100 Gold = 140 USD
Blast Gold Airdrop Price Status 2
Ecstasy Price → 10 million points = 650 USD
Neutral Price → 100 Gold = 325 USD
Pessimistic Price → 100 Gold = 130 USD
Remember, this is just for fun and we are bouncing around with prices based on speculation.
We don’t know for sure the total supply of gold coins (the basis of this topic);
We don’t know how the market will price competitors’ Blast;
We don’t know if the relationship between coins and points is up to date, or if the total point supply is normal;
We don't know if the $BLAST distribution per point/coin will be linear (although I assume/think it will be).
Here are my thoughts on the airdrop:
Overall (unfortunate market conditions aside) I think this airdrop was very well executed. No witch hunts. Smaller wallets and users enabled by the coin.
We don't talk about witches, because the gamblers have to put in real work (gold) or real money (points). If tomorrow's launch goes well, I think it will be a success.
